31 January 2013

Paul Krugman and the Japan worriers to apologise to the Emperor

Thursday evening and Friday early morning are not good times to have insomnia. National Radio has an unlistenable jazz programme before midnight, which is soon followed by a programme about differently-abled people.

Much better to watch and listen to Paul Krugman talk about the economy of the USA from the start of the GFC in 2008 being like Japan in the 1990s - except with more unemployment and suffering.

Krugman tells the joke that the US has so badly managed it's economic response to the GFC, that he and the other US-based 'Japan worriers' (the economists who criticised Japan's management of it's economy in the 1990s for its failure to stimulate growth in a period of near-zero interest rates) are planning to go to Japan to apologise to the Emperor, for the worse US management of the GFC